When you list with Padspin, your unit is instantly promoted across all major rental sites, social media, and our renter network. We screen all prospects upfront, only scheduling same-day tours with qualified renters ready to sign. Once we close, you receive their full application package including pay stubs, tax returns, bank statements, and credit report for final approval.
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Hereinafter referred to as "you".
The apartment at the above-listed address is hereinafter referred to as the "Premises".
This agreement (the "Agreement") confirms you have engaged To The People, Inc. d/b/a "Padspin" ("Padspin") to represent for leasing the Premises and will not sign a contract with any real estate agents or brokerages during the Term of this Agreement. This Agreement supplements and amends the Padspin Terms of Service (the “TOS”) which are incorporated herein by this reference.
You shall cooperate with Padspin and any Padspin User in obtaining any required waivers or consents, or any other documentation or permissions necessary to lease the Premises pursuant to this Agreement.
1. You represent and warrant (select one): *
2. You authorize Padspin to advertise the Premises at the monthly rent of: *
3. You represent and warrant the Premises will be available by: *
4. The Term of this Agreement shall commence on the date you sign and continue for two weeks, at which point either party can terminate with written notice. Otherwise, the Agreement will remain. *
5. During the Term of this Agreement, only you and Padspin may rent the Premises. Subject to Section 7, nothing in this Agreement shall preclude you from leasing the Premises on your own, provided that, upon Padspin notifying you of a pending lease application for the Premises, you will not accept or submit any lease applications on behalf of any other person. Conversely, if you accept an application outside of Padspin we expect to be notified immediately to cease marketing your apartment. *
6. Padspin relies heavily on and acts upon the information you provide herein in order to expediently lease the Premises. You hereby represent and warrant that all information provided herein is true and accurate upon execution hereof. In the event a Padspin User is unable to lease the Premises due to false or inaccurate information herein, Padspin reserves the right to hold you liable for the Padspin service charge. *
7. Any Padspin User's lease application is subject to Padspin’s final approval. *
8. During the Term of this Agreement if Padspin submits a User to apply for the Premises, upon successful lease signing you will compensate Padspin $800 *
9. Upon Padspin successfully leasing your rental property, Padspin will be entitled to receive $350 in compensation for each lease extension or renewal by the tenant beyond the initial first year. This fee will reset annually for each subsequent year the Padspin tenant remains on the property. This fee acknowledges the substantial cost savings Padspin provides owners, which includes the elimination of vacancy expenses, unit painting, cleaning, and repair costs between tenants, as well as the expenses and time associated with sourcing a new, high-quality, reliable tenant.*
10. Padspin reserves the right to charge incoming tenants nominal service fees to offset extra internal costs, such as background checks and additional administrative fees. These fees will be clearly communicated to any potential tenants from the outset, and will be reasonable and proportionate to the services provided. *
11. Electronic Signature *
Each party agrees that the electronic signatures, whether digital or encrypted, of the parties included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual signatures. Electronic signature means any electronic sound, symbol, or process attached to or logically associated with a record and executed and adopted by a party with the intent to sign such record, including facsimile, email electronic signatures, or any electronic record.
If the foregoing accurately sets forth your understanding of the agreement between you and Padspin with respect to the subject matter hereof, please sign this Agreement where indicated below.
AGREED AND ACCEPTED TO: *
If the foregoing accurately sets forth your understanding of the agreement between you and Padspin with respect to the subject matter hereof, please sign this Agreement where indicated below. Please use the following signature format: "/s/ [typewritten name]".
A copy of your response will be emailed to the address you provided.
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